Credit Accommodation definition

Credit Accommodation has the meaning set forth in Section 1.1(a).

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Credit Accommodation any advance or other extension of credit by Lender to or on behalf of Borrower hereunder.

Credit Accommodation any Advance or other extension of credit by Lender to or on behalf of Borrower hereunder or under any Evidence of Special Credit Accommodation.

Examples of Credit Accommodation in a sentence

Lender shall have no liability of any kind with respect to any Letter of Credit Accommodation provided by an issuer other than Lender unless Lender has duly executed and delivered to such issuer the application or a guarantee or indemnification in writing with respect to such Letter of Credit Accommodation.
Borrower assumes all risks with respect to the acts or omissions of the drawer under or beneficiary of any Letter of Credit Accommodation and for such purposes the drawer or beneficiary shall be deemed Borrower's agent.
Any duties or obligations undertaken by Lender to any issuer or correspondent in any application for any Letter of Credit Accommodation, or any other agreement by Lender in favor of any issuer or correspondent relating to any Letter of Credit Accommodation, shall be deemed to have been undertaken by Borrower to Lender and to apply in all respects to Borrower.
Borrower shall be bound by any interpretation made in good faith by Lender, or any other issuer or correspondent under or in connection with any Letter of Credit Accommodation or any documents, drafts or acceptances thereunder, notwithstanding that such interpretation may be inconsistent with any instructions of Borrower.
Effective on the issuance of each Letter of Credit Accommodation, a Reserve shall be established in the applicable amount set forth in Section 2.2(d)(iii)(A) or Section 2.2(d)(iii)(B).

More Definitions of Credit Accommodation

Credit Accommodation means any debt of the Borrower to the Lender and all terms and conditions of said debt.

Credit Accommodation means, collectively, Disbursements and issuances of Letter of Credit.

Credit Accommodation. Any advance or other extension of credit by Meridian to or on behalf of Client hereunder.

Credit Accommodation has the meaning set forth in Section 1. 1(a).

Credit Accommodation any extension of credit by Lender to Borrowers hereunder, including the issuance by Lender of Letters of Credit or the making of any loan.

Credit Accommodation. Amount shall mean the aggregate outstanding amount of Advances, which sum may not exceed the Maximum Line of Credit

Credit Accommodation means (a) any bond issued or guaranteed by, or any loan or advance now or hereafter made to or guaranteed by, the Maker, including any financing or extension of credit provided to the Maker pursuant to Section 363 or 364 of the Bankruptcy Code, (b) any bankers acceptance or letter of credit now or hereafter issued by or for the account of the Maker or as to which the Maker has guaranteed repayment or reimbursement, (c) any overdraft now or hereafter permitted to occur in any deposit account of the Maker, (d) any forward foreign exchange contract, interest rate or currency swap or other derivative now or hereafter issued to or for the benefit of the Maker or as to which the Maker has guaranteed payment, and (e) any securitization facility or structured financing with respect to the Maker's receivables and/or other financial assets now or hereafter arising.